Welcome to Obama America: National debt is now above official debt limit (Exceeded the statutory Debt Limit approved by Congress last February)
The latest calculation of the National Debt as posted by the Treasury Department has - at least numerically - exceeded the statutory Debt Limit approved by Congress last February as part of the Recovery Act stimulus bill.
The ceiling was set at $12.104 trillion dollars. The latest posting by Treasury shows the National Debt at nearly $12.135 trillion.
Read the whole story at CBS News
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